Wednesday, May 11, 2016

Economic News , Data & Views ( May 11, 2016 ) Overview For Wednesday ( 1. Markets In Focus - NIRP-Land News - Selected 2 Year Yields Comparison Between Nov 2011 and Today , S&P 500 Advance Between Feb Lows & Present , Central Bank Rate Hike Expectations Watch , Commodity Watch - Lumber At Highest Level Since Feb 2015 & Crude Oil Items Of The Day. 2. UK & Brexit News & Views . 3. EU-Turkey Deal Seems Trapped On The Ropes - Stalling AT European Parliament , Erdogan Back-Tracking On Agreed Measures While Turkey Threatens To Unleash Millions Of Refugees Toward Europe. 4. Refugee Crisis / Border Security Items For Wednesday. 5.Brazil Impeachment Drama , Olympics Debacle Coming , Grim Retail Sales Data For March. 6. Libya News De Jour. 7. MENA- Non Libya Updates. 8. Odds & Ends. )



Markets.......



2-Year yields: Nov 2011 => Today Italy: 7.7% => -0.07% Spain: 6.1% => -0.07% US: 0.27% => 0.73%






17% vertical advance from Feb-Apr to new ATH, minor consolidation since. Interesting to see so much angst out there.







Market Expectations for next rate hike in... US: Feb 2017 UK: Oct 2019 Eurozone: May 2020 Japan: Sep 2020







Dr. Lumber at its highest level since Feb 2015, up 21% YTD.







LINN Energy files prepack Ch.11; No impact to operations







Crude Oil up 75% from the Feb lows ($26), mirroring the rally from Feb-May of 2009.










Raises Prices Nearly 70% Amid Shortages via






Brent crude is up 8% in two days -- above $47 a barrel






Bang!!! market caught wrong-footed Crude stocks down 3.4m barrels; gasoline down 1.2m. Distillates down 1.6m.















 UK News & Brexit......






Double dose of apologies from "OwnGoal" Dave..







David "OwnGoal" Cameron scores again... half ass apology after vile , uninformed depiction.







Another embarrassing moment for "Own Goal Dave ."







Table turned around , it would appear..









Osborne: Treasury and BoE doing "quite a significant amount" of contingency planning to "mitigate" impact of Brexit








Toby Young makes the case for Brexit....







EU-Turkey ......





Latest Erdogan demand to EU-give the 3bn in refugees aid directly to Turkey's Gov't and Agencies !








 

As expected , European Parliament will hold Turkey's feet to fire regarding full compliance.







Erdogan does not have much financial leeway. reserves already below the adequacy range.







Refugee Crisis / Border Security.....






Austria's border control rankle...







More "interesting" information concerning plans to deal with refugee /economic migrant crisis. Fwiw






EU Report on FYROM and Greece: Overcrowded Camps, Child Detentions







Italy smuggler route busier than Greece -but look at how the numbers have fallen off.









It's come down to this for some refugees / economic migrants.









EU has mishandled its refugee crisis....







Brazil.....














Dilma Rousseff faces impeachment as Brazil's senate debates – live






Impeachment seems certain to pass Senate , as Supreme Court rejects Rousseff appeal







Violence , serious water pollution including raw sewage , Zika virus & political turmoil impacting Gov't stability.






*BRAZIL MARCH BROAD RETAIL SALES FALL 7.9% FROM YEAR EARLIER *BRAZIL MARCH BROAD RETAIL SALES FALL 1.1% FROM MONTH EARLIER




Libya Items De Jour.....






LNA's official spox Col. Ahmed al-Mismari announced the start of Op Derna dubbed "al-Burkan" says LNA closing in on DMSC.














bad news for the GNA's Prez Council - Col. Juha the key figure in Sirte-Misrata Ops Room says can't accept membership of Ops











MENA - Non Libya Items ......






Update: Death toll from triple car bomb attack on Baghdad rises to 93: Three separate car bombings in Baghdad...





ISIS reduced to inflicting terror on defecting fighters - apart from selling chickens & eggs roadside.






The Number of Syrian Towns that Favor Reconciliation Rises to 99






Odds & Ends.....





So any chance first review wrapped by before quiet time preceding UK Referendum ?




Already taken hostage by markets , but in a Blazing Saddles fashion.....




Quite sure that he is "feeling pressure"...














Wilbur Ross urges reconciliation between Ryan & Trump ...






Draghi as cash conspirator: Frankfurt protest planned amid fear wants to abolish cash.






First and now gas? may ban U.S. gas imports due to domestic ban on fracking







Germany certainly has become a source of growing controversy and one can make the arguement , Europe's big problem.